Egypt’s Ahly Sporting Club plans IPO arranged by CI Capital – Source

Egypt’s investment bank CI Capital will arrange next March an IPO for one of the most popular teams in the country Al Ahly Club, sources with knowledge of the matter told Amwal Al Ghad.

This is the first time in the Egyptian Exchange’s history to witness an initial public offering from a sporting club.

The source further said the number of shares to be offered and the price range of the offering had “not yet been determined.”

Moreover, the source stated that CI Capital is currently conducting studies and financial assessment for the listing after the completion of founding a joint stock sporting company for Al Ahly club.